2016Vero Vero Beach Beach Island Island 1st 1st Quarter Quarter Real Real Estate Estate 2016
M A R K E T R E P O RT
ISLAND PREVIEWS 4625 Hwy. A1A 772.231.4880
SEBASTIAN
1209 US Hwy. 1 772.589.7777
VERO BEACH N. HUTCHINSON 1950 US Hwy. 1 772.778.2029
4007 N. Hwy. A1A 772.464.7007
Vero Beach Island Comparison 2016 to 2015 The Key to Selling Your Home Quickly on Vero’s Island? Work with a Savvy Realtor and Price It Right! Inventory is on the rise for Vero Beach Island your home or condo, you do not have to go it alone. Properties, reports Coldwell Banker Paradise in the This is when a relationship with a savvy real estate First Quarter Market Report for 2016. In fact,Vero agent would most benefit any homeowner. At Coldwell Beach Island has the highest inventory levels of any of Banker Paradise we have professional real estate agents the local markets on the Treasure and Space Coasts. who specialize in Vero Beach Island Properties. They are “We have a healthy month’s supply of homes and the experts because they live on the island, do business condos on the Vero Beach Island right now,” said Sharon there, send their children to school there, and have Murbarger, sales manager of the Island Previews and been studying this market for many years. “Whatever Vero US 1 office. In general the trend for homes in the you do, don’t be tricked into going onto one of those higher end of the pricing spectrum shows an increase online websites where they try to help you find out of inventory as well as a decrease in price indicating what your home is worth,” warns Murbarger, “National that buyers are not rushing studies have shown that those websites into decisions. “Buyers looking Buyers looking at higher priced can be off by as much as 21%.” at higher priced homes are Coldwell Banker Paradise prides homes are looking for value looking for value and not rushing and not rushing into decisions. itself on providing the best market into decisions. Pricing is key knowledge available to home buyers Pricing is key for sellers at this and sellers through its Quarterly for sellers at this level of the market,” added Murbarger. level of the market. Market Reports and its experienced, “Homeowners need to evaluate how motivated they are to sell. Right now, most properties in this market are taking a year or more to sell and pricing is fundamental,” said Steven Schlitt, co-owner and broker of Coldwell Banker Paradise. When trying to determine the true value of
well-trained agents. “Our agents are the experts. They are in the neighborhoods, seeing what is selling and why. Want to know what is happening in your neighborhood? Ask our agents today,” stated Schlitt. You can reach our Island Previews office at 772231-4880.
SINGLE FAMILY HOMES Price Point Under $500,000
$500,000 to $1,00,000
Over $1,000,000
Total
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
2016
26
50
5.8
$374,542
2015
43
65
4.5
$355,476
Change
-39.5%
-23.1%
+28.2%
+5.4%
2016
29
140
14.5
$705,280
2015
21
130
18.6
$743,261
Change
+38.1%
+7.7%
-22.1%
-5.1%
2016
25
193
23.2
$1,974,560
2015
26
161
18.6
$2,243,961
Change
-3.8%
+19.9%
+24.5%
-12.0%
2016
80
383
14.4
$994,440
2015
90
356
11.9
$991,522
Change
-11.1%
+7.6%
+20.7%
+0.3%
CONDOS Price Point Under $500,000
$500,000 to $1,00,000
Over $1,000,000
Total
Year
Condos Sold
Current Listings
Month’s Supply
Average Price
2016
27
99
11.0
$303,398
2015
42
94
6.7
$271,473
Change
-35.7%
+5.3%
+64.2%
+13.6%
2016
17
41
7.2
$642,971
2015
9
24
8.0
$664,722
Change
+88.9%
+70.8%
-9.6%
-3.3%
2016
1
20
60.0
$1,025,000
2015
3
19
19.0
$1,823,333
Change
-66.7%
+5.3%
+215.8%
-43.8%
2016
45
160
10.7
$450,717
2015
54
137
7.6
$423,229
Change
-16.7%
+16.8%
+40.4%
+6.5%
E X C L U S I V E LY P R E S E N T I N G :
THE MOORINGS - $2,455,000- As Seen On Cover
VERO BEACH
$679,000 As Seen on Cover
VERO BEACH - $795,000
VERO BEACH - $650,000
flcoldwellbanker.com
A SELECTION OF RECENT SOLDS:
Smugglers Cove 1570 Smugglers Cove $578,000
C O L D W E L L
Indian River Shores, 935 Sunrise Terr $538,000
B A N K E R
VERO BEACH MAINLAND
VERO BEACH ISLAND
772-778-2029
772-231-4880
SEBASTIAN MAINLAND
772-589-7777
INDIALANTIC BREVARD 321-951-3300
P A R A D I S E NORTH HUTCHINSON 772-464-7007